On October 29, 2019, the Court of Queen’s Bench of Alberta (the “Court”) granted an order (the “Receivership Order”) placing Houston Oil & Gas Ltd. (“Houston” or the “Company”) into receivership. Hardie & Kelly Inc. has been appointed as the receiver of the Company (the “Receiver”). A copy of the Receivership Order can be found below under the section entitled “Court Orders”.
The Receivership Order provides for a stay of proceedings such that creditors are prohibited from continuing or commencing any actions or exercising any rights against Houston and or its assets for payment of goods and services supplied to prior to October 29, 2019, absent seeking leave of the Court. The Receivership Order further provides that suppliers of goods and services are restrained from discontinuing the provision of goods or services to the Receiver absent leave of the Court.
Contact individual for the Receiver – Charla Smith at 403-536-8506 or firstname.lastname@example.org
Field Operational Contact Information
The Receiver has retained Veracity Energy Services Inc. (“Veracity”) to assist with the day-to-day management and operations of Houston’s assets. Inquiries associated with day-to-day field operations can be directed to Veracity at 403-537-1300.
The Receiver has engaged Sayer Energy Advisors (“Sayer”) as its sales agent to market the oil and gas interests of the Company. A copy of the Sale Solicitation Process document outlining the terms and conditions of the sales process and Sayer’s mailer summarizing the opportunity can be found below:
Additional information in respect of the offering can be obtained from the link to Sayer’s website below. The deadline for offers to be submitted to Sayer is February 27, 2020 at 12:00 P.M. MST.
Interested parties should contact Ben Rye or Tom Pavic, of Sayer, at 403-266-6133.